Fixed Asset Management and Compliance Training Course
Effective fixed asset management is crucial for maintaining operational efficiency, adhering to regulatory standards, and ensuring long-term financial sustainability. This process encompasses the classification, monitoring, depreciation calculation, and eventual disposal of assets such as machinery, equipment, vehicles, and real estate.
This instructor-led, live training—available either online or onsite—is designed for finance and asset management professionals at intermediate to advanced levels who seek to enhance their ability to track assets, maintain control, and ensure compliance with International Financial Reporting Standards (IFRS).
Upon completion of this training, participants will be able to:
- Classify and configure fixed assets in accordance with IFRS regulations.
- Oversee asset creation, acquisition, and capitalization processes.
- Establish control measures for effective asset tracking and monitoring.
- Apply suitable depreciation and amortization methodologies.
- Efficiently handle asset movements, transfers, and disposals.
- Ensure adherence to financial reporting and audit standards.
Format of the Course
- Interactive lectures and group discussions.
- Extensive exercises and practical applications.
- Hands-on implementation within a live-lab environment.
Course Customization Options
- To request a customized training session for this course, please contact us to arrange details.
Course Outline
Introduction to Fixed Asset Management
- Definition and significance of fixed asset management.
- Impact on financial reporting and compliance.
- Integration with accounting and ERP systems.
Classification and Configuration of Fixed Assets
- Fixed asset categorization based on IFRS standards.
- Asset parameterization within accounting management systems.
- Best practices for effective asset classification.
Creation and Registration of Assets
- Acquisition methods and initial recognition.
- Capitalization of associated costs.
- Workflows and approvals for asset registration.
Control and Monitoring of Assets
- Identification and tracking of asset components.
- Maintenance scheduling and lifecycle management.
- Risk mitigation and internal control measures.
Depreciation and Amortization
- Common depreciation methods (Straight-Line, Diminishing Balance, Units of Production).
- Amortization calculations based on asset type and useful life.
- Accounting records and financial implications.
Asset Movements and Transfers
- Procedures for internal asset transfers.
- Generating delivery and assignment records.
- Approval workflows and audit trails.
Asset Disposal and Write-Offs
- Causes and procedures for asset retirement.
- Accounting treatment of asset write-offs.
- Legal and compliance considerations in asset disposal.
Revaluation, Useful Life Adjustments, and Residual Value
- Asset revaluation criteria and financial impact.
- Adjusting useful life and residual value.
- Revaluation reporting in financial statements.
Summary and Next Steps
Requirements
- Foundational understanding of accounting principles.
- Familiarity with financial reporting and regulatory compliance frameworks.
- No prior experience with fixed asset management is required.
Audience
- Asset management personnel.
- Accounting and finance professionals.
- Internal auditors and compliance officers.
- Procurement and operations managers.
Open Training Courses require 5+ participants.
Fixed Asset Management and Compliance Training Course - Booking
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Testimonials (2)
casual conversation supported by specific examples
Joanna Chlebny - BFF Polska S.A.
Course - Planning and Risk Assessment
The fact that all the standard was reviewed and discussed with some examples, when needed and required.
Ioana
Course - ISO/IEC 27005 Information Security Risk Management
Upcoming Courses
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